My position: Gold is holding still the #4,002.80 benchmark as an hard Support zone, rejecting each re-Sell attempt on both Short and Medium-term as now Price-action is looking Bullish. Even though Gold was ready to pierce #4,002.80 benchmark, I have been ready with my re-Sell zones however Gold soared aggressively due switch on Hourly 1 chart where I was wrong and on wrong side of the market. I however didn't engaged any Sells as Gold was soaring strongly, only slight #4,085.80 Sell however as all structure turned Bullish, I now turn to Buying (also Asian session rise was strong) and I keep Buying Gold today. #4,152.80 and #4,127.80 re-Buy zones to monitor.


Technical and Fundamental analysis: With the Fundamental events positively exceeding forecasts and as discussed, Gold is soaring on #4-consecutive sessions of Buying spree while DX still didn’t initiated an more serious recovery / struggling to make a Bullish comeback which added enormous Buying pressure on Gold however current DX numbers or any other factor isn’t impacting Gold rather than non-stop rising, indicating elemental shift in the trend. Technically, upswing Traders are witnessing on Gold should appear as no massive surprise that Price-action delivered a session High’s near #4,302.80 benchmark / local peak delivering almost #300-point relief rally without significant cause. When Gold is soaring this much without DX news or Middle East further escalation, it indicates that market speculators are preventing #4,002.80 benchmark (posing as a floor which I mentioned many times) break-out to the downside which could deliver #500-point decline in continuation. In current market, each Support zone rejection can be considered as an another Buying opportunity (and vice-versa regarding the opposite side however this is aggressive Bull market Gold is Trading on). Current Bearish spikes are mainly attributed to the turnover on both DX and Bond Yields as aggressive Bullish spikes became new norm currently even though that peak (hard Resistance zone which is very near) rejected the Buyers intent on multiple occasions. It is important for the Hourly 4 chart to break the Resistance cluster of #4,292.80 - #4,302.80 on one try, as the current momentum still holds some Neutral bias as Gold is soaring for #4-consecutive sessions. My practical suggestion is to re-Buy each local Lows and add more Buy orders on #4,302.80 eventual break-out to the upside.